62 Balsam St Unit B102 Waterloo

 

 

FOR SALE $549,800

5.8% CAP RATE! Great Waterloo Core Investment Prime Retail Space! Newer commercial condo unit on the ground floor of Sage 3 Condos in the Heart of Waterloo directly across from the back of Wilfred Laurier Lazaridis School of Business and Economics Building located at 64 University Ave W. Many commercial uses available. Currently, this unit is leased as a Snackery and Comfort Food establishment until May 31, 2022 at $3,750 per month plus HST plus utilities to an excellent tenant. The Condo fee is $430 plus HST. This 14′ high ceiling unit has a large glass front window and there has been extensive leasehold improvements – granite counter tops, upscale cabinetry, food preparation room, upgraded exhaust, ceramic flooring, LED Lighting, alarm system, camera monitoring, 2 washrooms with one being handicap high standards and the hot water tank and water softener are owned. This unit also includes an owned parking spot #24 which was purchased at an extra $20,000. There is a high volume of student / professor walk-in customer traffic from the University and residential units above and surrounding area and there is also an extra paid parking section at the University parking lot across directly across the unit. With convenience to the new billion dollar Rapid Transit LRT, go bus routes, Google plus all other amenities, this makes an excellent Core Waterloo Investment Opportunity for the Prudent Investor! See Cap Rate Calculation below.

Notes:

      1. Condo Fee is $430 plus HST
      2. Currently, this unit is leased as a Snackery and Comfort Food Establishment  until May 31, 2022 at $3,750 per month plus HST plus utilities to an excellent tenant.
      3.  CAP RATE CALCULATION: The lease is $3,750 per month plus HST / The condo fee is $430 per month plus HST / The Property Tax is $600 per month / The Property Insurance is $50 per month /Therefore the net income per month is $3,750 – $430 – $600 – $50 = $2,670 / Net Income is $2,670 X 12 = $32,040 / Purchase Price is $550,000 / NI/PP = Cap Rate / Therefore the Cap Rate is: 32,040/550,000 = 5.8%

         

  • MLS® #: 30744532 
  • Price: $549,800 
  • Property Tax: $7,183 for 2019 
  • Age: Built in 2015 
  • Approximate sq ft : 1,287 sq ft 
  • Lot size: Condo  
  • Heating: Forced air gas 
  • Hydro: 200 amp breakres 
  • Main Floor Room 1: Main cafe area is 35' X 20'6 
  • Main Floor Room 2: Food preparation room is 17'6 X 14' 

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